Veralto (NYSE:VLTO) Updates FY24 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.25-3.34 for the period, compared to the consensus earnings per share estimate of $3.29. Veralto also updated its Q2 guidance to $0.75-0.80 EPS.

Veralto Price Performance

Shares of NYSE VLTO traded up $2.49 during mid-day trading on Tuesday, hitting $93.72. 2,456,375 shares of the company traded hands, compared to its average volume of 1,598,865. Veralto has a 1 year low of $65.51 and a 1 year high of $93.85. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89. The business has a 50 day moving average of $87.83 and a two-hundred day moving average of $79.93.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.25 billion. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. As a group, analysts predict that Veralto will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.38%. The ex-dividend date is Wednesday, March 27th.

Wall Street Analysts Forecast Growth

VLTO has been the topic of several recent analyst reports. BNP Paribas began coverage on Veralto in a research report on Tuesday, March 12th. They set an outperform rating and a $103.00 price target on the stock. The Goldman Sachs Group began coverage on Veralto in a research report on Friday, March 22nd. They issued a buy rating and a $104.00 target price on the stock. BMO Capital Markets began coverage on Veralto in a research report on Tuesday, February 27th. They issued an outperform rating and a $97.00 target price on the stock. Royal Bank of Canada upped their target price on Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a research report on Thursday, February 8th. Finally, Stifel Nicolaus upped their target price on Veralto from $92.00 to $97.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $93.36.

Insider Activity at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the sale, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by corporate insiders.

Veralto Company Profile

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.